Question: The vertical distance between points A and B represents a tax in the market. Refer to Figure 1. The imposition of the tax causes the

The vertical distance between points A and B represents a tax

in the market. Refer to Figure 1. The imposition of the tax

causes the quantity sold to a. increase by 1 unit. b. decrease

by 1 unit. c. increase by 2 units. d. decrease by 2

units. Refer to Figure 1. The imposition of the tax causes the

price paid by buyers to a. decrease by $2. b. increase by

$3. c. decrease by $4. d. increase by $5. B) b C

The vertical distance between points A and B represents a tax in the market. Refer to Figure 1. The imposition of the tax causes the quantity sold to a. increase by 1 unit. b. decrease by 1 unit. c. increase by 2 units. d. decrease by 2 units. Refer to Figure 1. The imposition of the tax causes the price paid by buyers to a. decrease by $2. b. increase by $3. c. decrease by $4. d. increase by $5. B) b C d Refer to Figure 1. The amount of the tax on each unit of the good is a. $1. b. \$4. c. \$5. d. $9. (A) a (B) b (C) C (D) d Refer to Figure 1. The per-unit burden of the tax on buyers is a. $2. b. \$3. C. $4. d. $5. (A) a (B) b (C) c (D) d Refer to Figure 1. The amount of tax revenue received by the government is a. $2.50. b. $4. c. $5. d. $9. a (B) b C d Refer to Figure 1. The loss of consumer surplus as a result of the tax is a. $1.50. b. $3. c. $4.50. d. $6. Refer to Figure 1. The loss of producer surplus as a result of the tax is a. $1. b. $2. c. $3. d. $4. a B b (C) c (D) d

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